Adidas Leaps into the Metaverse with New NFT Project
Just one week after announcing a historic partnership with the crypto exchange platform Coinbase, Adidas is back with more exciting news for both crypto and sports fans.
The global sporting goods company has taken a leap into the metaverse by teasing a space “where anyone can express their most original ideas and be their most authentic selves, in whatever form they might take,” read the company’s statement. Lending a special focus to NFTs, the developers then went on to add, “And thanks to the blockchain [and NFTs], those pioneers can own a piece of what they create”.
In tandem with this announcement, Adidas’ first foray into the metaverse happens to be a collaboration with Bored Ape Yacht Club, gmoney NFT, and PUNKS Comics. The “rebellious optimist” ape Indigo Herz NFT is the first to be listed within this collection on the Ethereum blockchain. The NFT features an ape wearing the iconic Adidas tracksuit, featuring the company’s logo as a background, and the brand has encouraged fans to download its Confirmed app to stay tuned for more.
Like many global brands, Adidas has chosen to capitalize on one of the most engaging spheres in the crypto world: NFTs. Other brands like luxury retailers Dolce & Gabbana, beverage conglomerate Coca Cola, and the NBA have already thrown their hat in the ring by collaborating with various creators to mint and sell their own NFTs, something that has been widely welcomed by fans.
One of the most well-performing markets in the DeFi sphere, the NFT market has ballooned to have an impressive $5.6 billion sales volume this past November, a far cry from the shy $55.5 million it held just 10 months ago.